McGuire Investment Group LLC lessened its stake in shares of Stryker Co. (NYSE:SYK – Get Rating) by 0.7% in the second quarter, Holdings Channel reports. The institutional investor owned 58,227 shares of the medical technology company’s stock after selling 393 shares during the period. Stryker accounts for approximately 2.5% of McGuire Investment Group LLC’s portfolio, making the stock its 12th biggest position. McGuire Investment Group LLC’s holdings in Stryker were worth $11,583,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SYK. Claremont Financial Group Inc. bought a new stake in shares of Stryker in the 1st quarter worth $25,000. Exane Derivatives bought a new stake in shares of Stryker in the 1st quarter worth $27,000. Princeton Global Asset Management LLC increased its holdings in shares of Stryker by 1,212.5% in the 1st quarter. Princeton Global Asset Management LLC now owns 105 shares of the medical technology company’s stock worth $28,000 after purchasing an additional 97 shares in the last quarter. Dixon Hughes Goodman Wealth Advisors LLC increased its holdings in shares of Stryker by 10,700.0% in the 1st quarter. Dixon Hughes Goodman Wealth Advisors LLC now owns 108 shares of the medical technology company’s stock worth $29,000 after purchasing an additional 107 shares in the last quarter. Finally, Core Alternative Capital grew its holdings in shares of Stryker by 720.0% in the first quarter. Core Alternative Capital now owns 123 shares of the medical technology company’s stock worth $33,000 after acquiring an additional 108 shares during the period. Institutional investors own 76.44% of the company’s stock.
Analyst Ratings Changes
Several analysts recently commented on the company. Edward Jones raised Stryker from a “hold” rating to a “buy” rating in a report on Thursday, July 28th. Truist Financial lifted their price objective on Stryker to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. Morgan Stanley lowered their target price on Stryker from $270.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Friday, July 15th. Piper Sandler lifted their target price on Stryker from $250.00 to $260.00 and gave the company an “overweight” rating in a research report on Wednesday, September 14th. Finally, Bank of America downgraded Stryker from a “buy” rating to a “neutral” rating in a research report on Monday, July 11th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Stryker currently has an average rating of “Moderate Buy” and a consensus target price of $256.29.
Stryker Price Performance
Stryker (NYSE:SYK – Get Rating) last posted its earnings results on Tuesday, July 26th. The medical technology company reported $2.25 EPS for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.02). The firm had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.53 billion. Stryker had a return on equity of 23.34% and a net margin of 11.79%. During the same quarter in the prior year, the firm posted $2.25 earnings per share. Analysts expect that Stryker Co. will post 9.38 earnings per share for the current fiscal year.
Stryker Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be issued a dividend of $0.695 per share. The ex-dividend date is Thursday, September 29th. This represents a $2.78 annualized dividend and a dividend yield of 1.34%. Stryker’s dividend payout ratio (DPR) is 51.20%.
Stryker Company Profile
Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies.
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